The Ankylosing Spondylitis market is anticipated to witness high growth owing to increasing prevalence of Ankylosing Spondylitis disease. Ankylosing Spondylitis is a type of arthritis that causes inflammation of the spine and sacroiliac joints. It leads to stiffening of the backbone and usually occurs in people between ages 15-40. The disease causes pain and stiffness in the low back and hips.
The Global Ankylosing Spondylitis Treatment Market is estimated to be valued at US$ 4,864.3 Billion in 2021 and is expected to exhibit a CAGR of 8.2% over the forecast period 2021 to 2028.
Key Takeaways
Key players operating in the Ankylosing Spondylitis market are Novartis AG, Merck & Co., Inc., UCB S.A., Boehringer Ingelheim International GmbH, Amgen, AbbVie Inc. and Johnson & Johnson. Ankylosing spondylitis is primarily treated with biological disease-modifying antirheumatic drugs (bDMARDs) which have provided new treatment options and improved health outcomes. Additionally, strong pipeline candidates offer potential treatment alternatives.
Ankylosing Spondylitis Market Size include growing geriatric population prone to developing AS, improving diagnostic rates, and favourable reimbursements for biologic drugs. The market players are also expanding globally with increased focus on Asia Pacific and Latin American regions which provide lucrative growth opportunities.
Rising awareness about early diagnosis and treatment through social media campaigns and patient support organizations is another factor driving market growth. However, high treatment costs, risk of infections due to immunosuppressive drugs, and lack of curative treatment options restrain market growth.
Market Drivers
Increasing prevalence of Ankylosing Spondylitis is a major market driver. The global prevalence of AS is estimated to be 0.1-1.4% with higher occurrence among males. Favorable government initiatives and patient assistance programs also boost the demand for AS drugs.
Market Restrains
High costs of biologic drugs for AS treatment restrict wider access and adoption. Stringent regulations for drug approval further delays market entry of new drugs. Adverse effects and risks associated with long-term usage of immunosuppressants also limit market potential to a certain extent.
Segment Analysis
The ankylosing spondylitis market can be segmented based on drug class and route of administration. Based on drug class, the market is dominated by disease-modifying anti-rheumatic drugs (DMARDs) segment as they are the standard first-line treatment option for patients with active axial involvement. Biologic disease-modifying anti-rheumatic drugs (bDMARDs) are also gaining significance due to their high efficacy in treating AS. Under route of administration, the parental route holds a large share as injections provide faster relief from symptoms compared to oral drugs. However, the oral route segment is growing steadily with innovations in drug delivery and formulation technologies.
Global Analysis
North America is currently the dominant as well as the fastest growing regional market and is expected to maintain its position during the forecast period. Factors such accessibility to advanced treatment options and growing patient awareness about the condition are driving market growth in the region. Meanwhile, Asia Pacific is emerging as a highly lucrative market attributed to rising healthcare expenditure, presence of large patient population, and increasing focus of global players towards expanding their presence in developing Asian countries. Europe holds a significant share and is anticipated to showcase steady growth owing to supportive government policies for rare disease treatment.
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